321 W 120th Street, Los Angeles, California 90061, Los Angeles, 90061 - 2 bed, 1 bath
321 W 120th Street
Los Angeles, California 90061
Property Price
SUMMARY
Analysis of 321 W 120th Street, Los Angeles, California 90061 reveals a Fairly Priced Property with a current list price of $500,000 aligned with the estimated $500,000 Fair Market Value. This represents a stable investment opportunity at market rate. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 321 W 120th Street Subject | $500,000* List Price | 2 | 1 | 1,200 | $417 | - |
A 315 W 120th Street Active | $500,000 List Price | 3 | 1 | 956 | $523 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is extensive renovation needed.
This property, built in 1921, is explicitly marketed as a 'MAJOR FIXER' requiring 'Extensive Renovation.' It is being sold 'AS IS' with 'NO SELLER REPAIRS,' indicating significant defects and the need for substantial rehabilitation. The exterior image shows an old, unkempt structure consistent with a property in disrepair. Given its age and the description, all major systems (electrical, plumbing, HVAC), as well as the kitchen and bathroom, are undoubtedly outdated and in very poor condition, requiring complete overhaul or replacement. The property likely has significant issues affecting its safety and soundness, aligning with the 'poor' condition criteria.
PROSSTRENGTHS & OPPORTUNITIES
- Investor Opportunity
Explicitly marketed as a 'Great Investor Opportunity,' appealing to buyers looking for value-add projects or development potential.
- Expedited Probate Process
The 'NO COURT CONFIRMATION REQUIRED' status significantly streamlines the probate sale, reducing typical delays and uncertainties for the buyer.
- Development Potential (LAR3 Zoning)
Situated on an LAR3 lot, the property offers significant multi-family development potential, which can substantially increase its long-term value.
CONSRISKS & DEFICIENCIES
- Extensive Renovation Required
Described as a 'MAJOR FIXER,' indicating significant capital investment and effort will be needed for rehabilitation or redevelopment.
- As-Is Sale with No Seller Repairs
The property is sold 'AS IS' with 'NO SELLER REPAIRS,' placing the full burden of all necessary improvements and associated costs squarely on the buyer.
- Occupancy Issues
The property 'WILL NOT be delivered vacant,' presenting a substantial challenge for the buyer who will need to manage existing occupants, potentially incurring legal costs and delays for eviction or relocation.
About 321 W 120th Street
PROBATE MAJOR FIXER. Great Investor Opportunity. * NO COURT CONFIRMATION REQUIRED*. Property sits on an LAR3 lot and and is to be sold "AS IS". NO SELLER REPAIRS. Property WILL NOT be delivered vacant.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1921
- Lot Size
- 5,303 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.5 | 50% |
| Baths | 1.0 | 1.5 | 50% |
| Square foot | 1,200 | 1,147 | 62% |
| Lot Size | 5,303 | 5,522 | 38% |
| Price | $500.0K | $652.0K | 15% |
| Price per sq ft | $417 | $567 | 19% |
| Built year | 1921 | 1948 | 12% |
| HOA | $0 | $0 | 50% |
| Days on market | 1058 | 164 | 0% |
Pricing History
Listed for Sale
Apr 13, 2023
$500,000
Initial Listing